Solar Panel Cost Guide in Homeland Park, SC (2023 Update)
- Homeland Park Solar Installation Cost: $15,296
- 25-Year Savings: $28,369
- Payback Period: 8.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Homeland Park
Find out what the average cost of solar panels are in Homeland Park.
In Homeland Park, solar panels cost about 2.72 per watt on average. The average solar panel system size in Homeland Park is around 8.0 kilowatts, meaning a cost of about $15,289 for a solar installation, or $21,863 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Homeland Park homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Homeland Park see about $21,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Homeland Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in Homeland Park
| Year | Return on Investment |
|---|---|
| 1 years | $-15,150 |
| 3 years | $-14,859 |
| 5 years | $-14,568 |
| 7 years | $-14,277 |
| 9 years | $-13,986 |
| 11 years | $-13,695 |
| 13 years | $-13,404 |
| 15 years | $-13,113 |
| 17 years | $-12,822 |
| 19 years | $-12,530 |
| 21 years | $-12,239 |
| 23 years | $-11,948 |
| 25 years | $-11,657 |
Top Solar Installers in Homeland Park
Trying to put up solar panels yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for you.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Homeland Park
Factors that Affect Solar Panel Costs in Homeland Park
There are several factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,720. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Homeland Park average.
Solar Financing Terms
Most solar installers in Homeland Park provide solar loans, which reduce your upfront costs of installing solar. Although solar loans make going solar more accessible for Homeland Park homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies in Homeland Park, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.83 | $11,881 | $20,730 | 9.1 years |
| 8 kW | $2.77 | $15,537 | $27,945 | 8.9 years |
| 10 kW | $2.72 | $19,040 | $35,312 | 8.8 years |
| 12 kW | $2.67 | $22,391 | $42,832 | 8.6 years |
| 14 kW | $2.61 | $25,590 | $50,503 | 8.4 years |
| 16 kW | $2.56 | $28,636 | $58,327 | 8.2 years |
| 18 kW | $2.50 | $31,530 | $66,304 | 8.1 years |
| 20 kW | $2.45 | $34,272 | $74,432 | 7.9 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should opt for, since different companies provide different panels.
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Homeland Park, SC Solar Cost FAQs
How much does it cost to install solar panels in Homeland Park?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,600 for a 5-kW system and $27,200 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Homeland Park?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.